Escher’s Waterfall Economics Revisited

August 15, 2019

Robbing Peter to simply to pay Paul no longer wins the debateWaving pens still does not create wealthThe rich spend money, tooEscher’s Waterfall economics revisitedRedistribution stimulates consumption and taxes productionMore consumption with comparatively less production will cause prices to riseWe’ve seen this before in the market for higher educationYou still can’t get something for nothing

The 2020 election season is picking up, so I’m bound to see more posts like this one on facebook in the coming months. This is a commercial from the British Labour party, rationalizing various government economic interventions to stimulate consumption. Though made for British politics, American progressives and Democrats make similar arguments. They call it “common sense”. Watch for yourself, then I’ll give you my reaction:

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